Autodesk Inc ( ADSK - Analyst Report ) recently unveiled a new application for Apple’s ( AAPL - Analyst Report ) iPad. The Autodesk 123D Creature app enables anyone to create and print 3D characters. With the help of the application, users can create original characters in a few steps.

The application has tools such as 123D Sculpt App, which allow users to thicken, stretch and sculpt their creatures. Users can print their creatures by ordering a 3D print from Sculpteo’s 3D printing services embedded within the application. The application can also be used in sync with other visual effects and animation software such as Autodesk Maya and 3ds Max.

Meanwhile, Autodesk announced a new partnership with The LEGO Group. The partnership will develop a 3D interactive building instruction application for LEGO MINDSTORMS EV3 platform, which allows users to build and program robots.

The application not only provides alternative to conventional instructions but also allows users to digitally view how the components of the platform fit. This makes it easier for builders to develop sophisticated robots.

The mobile application will be available for both Apple’s iOS-based devices as well as Google’s ( GOOG - Analyst Report ) Android-based devices in the second half of 2013.The application can also be accessed over the Internet at MINDSTORMS.COM.

Autodesk enjoys a leading position in the computer-aided designing market. The new applications reflect Autodesk’s focus on improving its penetration in the emerging technologies. The new mobile applications will further boost Autodesk’s market share going forward.

We believe that Autodesk’s expanding product portfolio, broadening industry applications and geographic reach will help sustain long-term growth. Moreover, the new cloud-based products will boost Autodesk’s subscriber base in the near term.

Acquisitions have also helped Autodesk to expand its cloud-based product offerings in the recent times. In the first nine months of fiscal 2013, Autodesk acquired 8 companies that include a number of software-as-a-service (SaaS) providers for approximately $204.2 million.

However, Autodesk’s high exposure to Europe amid the lingering financial turmoil in the region keeps us cautious. Moreover, customer concentration and increasing competition from Adobe ( ADBE - Analyst Report ) are the other headwinds.

Currently, Autodesk has a Zacks Rank #2 (Buy).